TOKYO: Shares in Japan's Marvelous Inc on Tuesday closed up 17per cent at their daily limit of 682 yen after the games maker announced China's Tencent Holdings Ltd would take a 20per cent stake.
Tencent will spend around 7 billion yen acquiring shares from Marvelous and its largest shareholders, Amuse Capital and its chief executive, Hayao Nakayama, a former Sega executive whose son founded Marvelous. It will pay 576 yen each - 1per cent below Monday's undisturbed closing price.
The investment is the latest example of an influx of Chinese money and gaming content into Japan, where a largely unconsolidated industry underpinning the country's pop culture is having to compete with well-resourced overseas rivals. "In comparison to Western companies there is a widening abyss in terms of development capability and financial clout," Marvelous said in a statement.
Tencent, the world's largest gaming company, launched mobile title Code: Dragon Blood in Japan last month, which currently sits in ninth place in gross rankings on Apple Inc's App Store, showed data from analytics firm App Annie. Peer NetEase Inc's battle royale game Knives Out is second.
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